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The greatest threat that hasn’t caught your attention
this impending peril is not AI
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APR 13 |
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April 13th, 2023  Partner with us. Your target audience are our besties! By partnering with us, you’ll be positioning your brand, product or services to reach thousands of captivated readers that are eager to learn about what you have to offer. Thanks for opening today’s edition of the Workshift Weekly! Do you find value in our Newsletters? We’d love to hear your thoughts! Please take a moment to leave us a quick review. Thank you in advance! The last edition of the WorkShift had a jaw-dropping number of opens. Late to the party? You can catch up here. My deduction - Most company leaders don’t want to be replaced. Turns out AI is not the only threat you have to deal with, there’s another you probably have overlooked for the longest time, I’ll spill as you read on. In Today’s Edition
How to Eliminate Your Single Points of Failure I watched an interview with Corporate Natalie, where she was speaking to job seekers and employees in a career seminar and as she began to share her story, what struck me was her role at the start of her career. She said and I quote: “I started my career as a consultant working in a Big4 company. I was the sorting hat of Big 4 consulting, which put me in this very niche group at the company which was Business Continuity and Resilience where we would work to remove any Single Points of Failure working in the company, for example, the IT guy who has all the passwords in his head, if he gets hit by a bus one day, the company is going to crumble…” This bit of that conversation made me realize that there are so many threats to a company’s success – and a Single Point of Failure is a crucial vulnerability that hasn’t caught many’s attention. Mind you, SPOFs do not have to be your employees, here are a few common examples:
So how do you find these loose threads and patch the gap?
The first step in mitigating SPOFs is to carry out a comprehensive audit of your business processes. This audit should be conducted to identify any potential SPOFs that could exist in your system. The audit should be thorough, and all aspects of the business should be evaluated.
Once you have conducted a thorough audit of your business processes, the next step is to identify any SPOFs that could exist. This could be in the form of a critical staff member, equipment, or even a vendor. It is essential to identify and assess the likelihood and impact of a failure.
Once you have identified potential SPOFs, the next step is to make extra efforts to mitigate the risk. This could involve creating redundancies, having backup equipment or systems, cross-training employees, or even retaining your high-performers because sometimes, your SPOFs are just humans in search of better opportunities. These strategies ensure that if one component fails, there is a backup system or person in place to ensure that operations can continue seamlessly.
The last step is to ensure that effective and sustainable plans are put in place to tackle any future occurrences. This includes developing a business continuity plan that outlines what should be done in case of an SPOF failure. The plan should be tested regularly to ensure its effectiveness and to identify any areas that need improvement. I know I have just tried to summarize a masterclass on Business Impact Analysis, Risk Assessment & Management, Employee Retention, Business Continuity and Succession Planning into a few paragraphs so here are some valuable resources I found that could take you steps further:
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Millennials constitute a significant amount of the global workforce and have proven themselves to be indispensable in the workplace because they have a lot to offer and are key to successful enterprises. Getting millennials to stay all comes down to creating a healthy work environment that fosters growth and fulfilment. We have compiled 7 easy tips to create the right work conditions and increase millennial employee retention. Retain Your Employees with Ease WorkShift with CareerBuddy – The Experience I still can’t find the right words to describe my WorkShift experience. As our guests rightly said, it was impactful but what stood out the most was the relatability and practicality. If you couldn’t attend the last session, you still have another chance to attend the next one as it holds every quarter. Application for the Q2 Edition of WorkShift is now open. Remember, we are only admitting 100 participants, so save your seat before its taken AS SEEN ON TWITTER The $575M Startup that Never Raised Any FundsTwitter has become a school with endless resources, every week I will be sharing useful tweets that will be beneficial to you as you continue to build amazing products. Click on the images to view the thread.    FROM THE LEADER’S LIBRARY How To Talk To Employees—And The Future Of Video It’s been a tough year for video-sharing platform Vimeo, from job cuts to a stock that’s worth a fraction of its 2021 IPO debut. While the company is not growing revenue at the 40%+ rate it saw during the pandemic, it is seeing strong growth in the enterprise market. For CEO Anjali Sud, that’s emblematic of where the business is going. Here’s how they set out to pivot MEME OF THE WEEK  AI TOOLS OF THE WEEK AI Tools you should be using to make your work easier
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